That happened to my dad when he bought 2 cars on his amex card in 1990 they came to our house. Once they saw the house and the other cars in the driveway they relaxed...
Never keep all your eggs in the same basket. Always have cards with at least 3 banks/credit unions. Always have Visa and MasterCard cards as well as Amex.
Thanks for this video. I remember years ago, many bloggers and other creators would post about these financial reviews (many because they were going thru them at the time), but recently was curious as I hadn't heard much about them.
OMG I road that button like a bronco the first couple months I go it. THANK GOODNESS, someone a couple years ago said it was a major trigger and now I dont.
I have a feeling it is a myth. It would make sense people think that because the amount you click the button is going to be associated with an appetite for high spending.
How much does net worth play in a American Express financial review? Because of an inheritance in 2020 my net worth is about 10 times my annual earned income. I notice American Express is the only credit card I have that gives you the option to report your net worth.
I have been with AMEX for 35 years. I have never heard of a review or been involved in such a review. Perhaps it maybe because I am a Canadian Card Holder?
If I make several payments a month on my account gold plat green say $500 here for $700 there several times a month. I dont like to end up with $5K balance, but take a bite out of my balance as I go along. Is this a issue?❓⁉
Thanks for this video man. I have four Amex cards as well as a business line of credit. American Express has been very good to me. And I don’t want to do anything to fuck that up. So your information was very valuable. Thanks.
I recently got hit with a financial review by AMEX and they lowered my limits on both my business Gold and Platinum cards. I'm wondering about the future; now that I've submitted all documents and completed the review process, can this happen again? I got the review for high-velocity spends in the first place. Would like to avoid it going forward if it's even a possibility again.
I think they like when people lie because it means as a company they can’t take advantage of your stupidity and make money from you. But when they see it possibly not going in their favor they decide to make sure everything is in order.
I disagree, a credit card is not an application for a mortgage. There's a reason sone people get a large credit limit and some don't. , or why some people only can get secured cards. I would hate to have to provide documentation for a coti double cash or a Sapphire student starter card.
Hello, I'll try to keep this short. First things first, paid off my bal. on my Green card every month and in good standing. We went to Seattle for a game. Used my card on dinning. the next day they cut my line by 1K? There reason was a lower credit score. I used a Discover card for vehicle service at $2800 for repairs and I moved into a brand new apartment which resulted in a credit inquiry. Thank you for the video.
That’s a bummer. My score has dropped to 640 from 720 because of holding a big balance on my Citi card but payed off in 2 months. Fortunately Amex never gave me grief. I have 3 business cards, Gold and BCE with Amex. I’ve ran 10s of thousands through my Amex cards but have eventually always paid to $0. It varies from person to person
Last Nov charged 4k, idiots said if you don't make a 1k dollar payment, your CL may be lowered... balance was 4300 with the 4K... I was like WTF.. CL at the time was 13k... had to make the 1k payment...
So if you get the card and want to hit the SUB and use the card for everything they flag you that makes sense Ya I’m not even wasting my time with Amex if this is how they act to me using the card
I got approved for the green card a month and half ago ,but i did went alittle over board with my annual income but currently i spend like $600 month on my green card so far but made several bill pay before each statement due date ! Should i call and correct my income or just leave it alone!😢
@tesla82111 I'm a long-time (2003) Amex consumer via Delta Skymiles. So I'm very familiar w/their eco system. However, these past two years they've changed their Biz model & I'm over it. They're not even top-tier. I'm out✌🏽
please tell me that's just for their regular cc's, if they also do a financial review for high spends on their business cc's that's just retarded because bcc's are meant to have high spends on them.
It’s not so much high spends, rather it’s spending behavior that they deem out of the ordinary for you, outside your income level, or otherwise risky. Amex has intimate data on spending since they’re both the lender and the payment network, and their algorithm will flag accounts when something is out of the ordinary. But spend normally and it won’t get flagged. If it’s normal for someone to spend millions on an Amex card and it gets paid regularly, then it probably won’t trigger a review. People have had Amex cards for decades and have never gotten one.
Unless someone else knows more than me, I believe you can as long as you have reasonable access to the money your wife makes. At least that is how every other card issuer considers total household income.
I believe if you have reasonable access to your wife’s money/income - a shared checking or savings account, for example, then you can include her income on your application.
